Cabinet companies led the sales gains in the FDM 300 last year, and are reporting gains so far in 2014. Many medium-sized cabinet companies recorded solid gains, and positive sales growth for the second year in a row.
Overall, the FDM 300 group of companies recorded a second year in a row of sales gains in 2013. Annual sales for this group of 300 companies were $39.630 billion in 2013, an increase of 5.3 percent over sales reported and estimated for the year 2012.
The FDM 300 is a group of the 300 largest cabinet, furniture, millwork, store fixture, office/contract and component producers in North America.
Participating cabinet manufacturers in the Kitchen Cabinet Manufacturers Association’s monthly Trend of Business Survey reported sales reached $5.6 billion for the year 2013. That figure is an increase of 20.7 percent compared to total sales for 2012. Stock sales were up 26.2 percent; semi-custom sales gained 16.3 percent; and custom sales increased 16.9 percent.
Survey participants include stock, semi-custom and custom companies with combined sales representing about 70 percent of the fragmented U.S. kitchen cabinet and bath vanity market.
Here’s a look at the largest cabinet companies in the FDM 300 for 2013.
- MasterBrand Cabinets, the Fortune Brands Home and Security’s kitchen and bath cabinetry segment, recorded sales gains along with its purchase of WoodCrafters in Texas. Net sales for the kitchen and bath cabinetry segments were $1.642 billion. Company makes Aristokraft, Diamond, HomeCrest, Omega, Schrock and other brands.
- Masco Corp.’s actual annual sales for cabinet and related products segment was $1.014 billion. The maker of KraftMaid, Merillat, Quality and other brands reported that net sales increased 9 percent from increased dealer channel sales from repair and remodel activity.
- American Woodmark reported annual sales of $630.4 million in its 2013 fiscal year. The company operates nine cabinet plants across the country.
- RSI Home Products operates nine plants and makes stock and semi-custom cabinets. Estimated annual sales were $290 million in 2013.
- Norcraft Companies Annual sales were estimated to be $340 million. The maker of Fieldstone, Norcraft and Starmark and other brand recently launched an initial public offering of common stock.